Van ECK Associates Corp Has $2.43 Million Stake in Fortive Co. (NYSE:FTV)

Van ECK Associates Corp decreased its stake in shares of Fortive Co. (NYSE:FTV - Free Report) by 45.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,127 shares of the technology company's stock after selling 27,213 shares during the period. Van ECK Associates Corp's holdings in Fortive were worth $2,426,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Janus Henderson Group PLC raised its position in shares of Fortive by 47.1% during the first quarter. Janus Henderson Group PLC now owns 6,244,117 shares of the technology company's stock worth $537,119,000 after acquiring an additional 1,999,792 shares during the last quarter. Boston Partners boosted its stake in shares of Fortive by 19.3% in the 1st quarter. Boston Partners now owns 6,463,772 shares of the technology company's stock valued at $554,253,000 after purchasing an additional 1,045,245 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Fortive by 78.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 853,187 shares of the technology company's stock worth $63,221,000 after buying an additional 373,957 shares during the period. D. E. Shaw & Co. Inc. raised its stake in shares of Fortive by 1,053.5% during the second quarter. D. E. Shaw & Co. Inc. now owns 382,707 shares of the technology company's stock worth $28,359,000 after buying an additional 349,530 shares during the last quarter. Finally, Panagora Asset Management Inc. lifted its holdings in Fortive by 27.4% in the second quarter. Panagora Asset Management Inc. now owns 1,269,103 shares of the technology company's stock valued at $94,041,000 after buying an additional 273,168 shares during the period. Institutional investors own 94.94% of the company's stock.

Insider Transactions at Fortive

In related news, SVP Jonathan L. Schwarz sold 14,223 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $73.80, for a total transaction of $1,049,657.40. Following the completion of the transaction, the senior vice president now directly owns 68,161 shares of the company's stock, valued at approximately $5,030,281.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, SVP Jonathan L. Schwarz sold 14,223 shares of the firm's stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $73.80, for a total value of $1,049,657.40. Following the completion of the sale, the senior vice president now directly owns 68,161 shares in the company, valued at approximately $5,030,281.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Stacey A. Walker sold 171,808 shares of the firm's stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $71.71, for a total value of $12,320,351.68. Following the completion of the sale, the senior vice president now directly owns 42,651 shares of the company's stock, valued at approximately $3,058,503.21. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 192,895 shares of company stock worth $13,878,151 in the last three months. Insiders own 1.01% of the company's stock.

Fortive Stock Up 1.3 %

FTV stock traded up $0.96 during trading hours on Monday, reaching $76.16. 3,318,155 shares of the stock were exchanged, compared to its average volume of 1,957,257. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.25 and a quick ratio of 0.99. The company has a market cap of $26.42 billion, a price-to-earnings ratio of 29.96, a PEG ratio of 2.06 and a beta of 1.13. The firm's 50-day moving average is $75.22 and its 200-day moving average is $74.18. Fortive Co. has a 12 month low of $65.14 and a 12 month high of $87.10.

Fortive (NYSE:FTV - Get Free Report) last released its earnings results on Wednesday, October 30th. The technology company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.93 by $0.04. The firm had revenue of $1.53 billion for the quarter, compared to analysts' expectations of $1.55 billion. Fortive had a return on equity of 12.56% and a net margin of 14.35%. The business's quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.85 EPS. On average, equities research analysts expect that Fortive Co. will post 3.85 earnings per share for the current year.

Fortive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, November 29th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date of this dividend is Friday, November 29th. Fortive's dividend payout ratio (DPR) is currently 12.75%.

Analysts Set New Price Targets

Several brokerages have commented on FTV. Truist Financial dropped their target price on shares of Fortive from $90.00 to $89.00 and set a "buy" rating for the company in a research report on Friday, November 1st. Royal Bank of Canada reduced their target price on Fortive from $85.00 to $77.00 and set a "sector perform" rating on the stock in a report on Thursday, October 31st. Barclays lowered their price target on Fortive from $98.00 to $95.00 and set an "overweight" rating for the company in a research note on Thursday, October 31st. Mizuho raised shares of Fortive from a "neutral" rating to an "outperform" rating and lifted their price objective for the stock from $80.00 to $90.00 in a research note on Friday, September 6th. Finally, Wolfe Research downgraded shares of Fortive from an "outperform" rating to a "peer perform" rating in a research note on Friday, September 6th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $88.20.

Fortive Company Profile

Fortive Corporation designs, develops, manufactures, and services professional and engineered products, software, and services in the United States, China, and internationally. It operates in three segments: Intelligent Operating Solutions, Precision Technologies, and Advanced Healthcare Solutions. The Intelligent Operating Solutions segment provides advanced instrumentation, software, and services, including electrical test and measurement, facility and asset lifecycle software applications, and connected worker safety and compliance solutions for manufacturing, process industries, healthcare, utilities and power, communications and electronics, and other industries.